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T153N-R93W is a good area in general. However, if you are under some of the Sections of the lake, the minerals could be difficult to develop (Sections 6, 7, 17, 20, 27, 28, 33, 34).
If you are not under those Sections, there is a very strong possibility that minerals will be developed before the lease expires in 2014. If they don't get it drilled by then and you re-lease, you should be able to negotiate a really nice lease bonus and royalty.
T153N-R93W is a good area in general. However, if you are under some of the Sections of the lake, the minerals could be difficult to develop (Sections 6, 7, 17, 20, 27, 28, 33, 34).
If you are not under those Sections, there is a very strong possibility that minerals will be developed before the lease expires in 2014. If they don't get it drilled by then and you re-lease, you should be able to negotiate a really nice lease bonus and royalty.
Yes, that's where we are (under the lake, where my ancestor had his farm before it was flooded in the '50s), and I do expect to fare a lot better if we have to do a new lease in a couple years.
I did see the results of some of those recent lease auctions for the lake bed & other parts of McKenzie County.
We (my brothers - who also have 11 acres each) just leased too soon, before it got hot again.
By the end of this summer, I should be certified in water quality testing. I'm taking a class for it. Maybe more opportunities will open up because of this.
Is there any land left to buy in the Williston area? At this point, due to the housing shortage, I wouldn't care if there are oil rights or not since buying something scarce in this area like land would become valuable in a short amount of time.
If you are willing to pay between 30k to 50k per acre for surface rights only, no water or mineral rights, then yes. There are some smaller chunks that have been platted between 2 and 5 acre lots. Most of it is still unplatted so there is a 10 acre minimum for those.
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